Uploaded on Aug 1, 2023
The first step of development is designing business model canvas. The 9 components will assist you in creating a marketplace business model. Learn More: https://www.qoreups.com/academy/design-right-marketplace-business-model/
How To Design The Right Marketplace Business Model
Online Marketplace Business Model [email protected] QoreUps +91 93601 90895 About Online Marketplace Business Models 1. A marketplace business model is a platform that connects buyers and sellers, enabling them to transact goods or services. 2. Today, we will explore the key components of a marketplace business model canvas. [email protected] QoreUps +91 93601 90895 Desirability Customer Segments Value Proportions Specific groups of customers Unique benefits that targeted based on their needs differentiate the company's and preferences. offerings from competitors'. Customer Channels Relationships The various ways through The type of interaction and which the business delivers support provided to customers its value proposition to during their journey. customers. [email protected] QoreUps +91 93601 90895 Feasibility Key Key Resources Critical assets, Partnership capabilities, and External organizations or resources required for partners that collaborate the business to function to enhance the business's effectively. Key Activities operations. Core processes and actions necessary for the business's successful operation. [email protected] QoreUps +91 93601 90895 Viability Revenue Cost Structure Streams Different sources of Major expenses and cost income generation for the drivers associated with business. running the business. [email protected] QoreUps +91 93601 90895 Key Key Value Customer Customer Partners Activities Proportions Relationship What Bkey actuivities sdo ouir ne SegmentsWhat vsalue dso we deMliver to thoe dWhaet type lof r elaCtionship For whomWho are our key partners? anva are wse cre ating value? value propositions require? customer? does each of our customer Who are our most important Who are our key suppliers? Our distribution channels? Which one of our customer’s segments expect us to customers? Which key resources are we acquiring for Customer relationships? problems are we helping to establish and maintain with them? Revenue streams? solve? them? What bundles of products and Which ones have we services are we offering to each established? customer segment? Which customer needs are we satisfying? Key Resources Channels What key resources do our Through which channels do value propositions require? our customer segments want to be reached? How are we reaching them now? How are our channels integrated? Which ones work best? Which ones are most cost- efficient? How are we integrating them with customer routines? [email protected] QoreUps +91 93601 90895 Customer Segments Customer Segments For whom are we creating value? 1. Identify and understand your target Who are our most important customers? audience. 2. Examples: Individual consumers, businesses, freelancers, etc. 3. Segment customers based on demographics, preferences, and needs. [email protected] QoreUps +91 93601 90895 Value Proportions Value Proportions 1. Clearly articulate the unique value What value do we deliver your marketplace offers to to the customer? customers. Which one of our customer’s problems are 2. Focus on benefits, convenience, we helping to solve? cost savings, or specialized What bundles of products services. and services are we offering to each customer 3. Differentiate yourself from segment? competitors to attract and retain Which customer needs are we satisfying? customers. [email protected] QoreUps +91 93601 90895 Customer Relationship Customer Relationship What type of relationship does each of our customer segments 1. Establish strong connections with expect us to establish and customers to foster trust and maintain with them? Which ones have we loyalty. established? 2. Provide excellent customer support How are they integrated through various channels. with the rest of our business model? 3. Encourage feedback, address How costly are they? concerns, and enhance the user experience. [email protected] QoreUps +91 93601 90895 Channels Channels Through which channels do our customer segments want to be 1. Determine the most effective reached? channels to reach and engage with How are we reaching customers. them now? How are our channels integrated? 2. Examples: Website, mobile app, Which ones work best? social media, email marketing, etc. Which ones are most 3. Utilize multiple channels to increase cost-efficient? How are we integrating them with visibility and accessibility. customer routines? [email protected] QoreUps +91 93601 90895 Key Resources Key Resources 1. Identify the essential resources What key resources do required to operate your our value propositions require? marketplace. 2. Examples: Technology infrastructure, website/app development, customer support team, etc. 3. Ensure you have the necessary resources to deliver your value proposition. [email protected] QoreUps +91 93601 90895 Key Activities Key Activities 1. Identify the core activities What key activities do our necessary for your marketplace to value propositions function. require? 2. Examples: Onboarding sellers, Our distribution channels? Customer relationships? managing listings, facilitating Revenue streams? transactions, etc. 3. Focus on activities that create value for both buyers and sellers. [email protected] QoreUps +91 93601 90895 Key Partners Key Partners Who are our key 1. Establish strategic partnerships to partners? Who are our key enhance your marketplace suppliers? ecosystem. Which key resources are we acquiring for them? 2. Collaborate with suppliers, logistics providers, payment gateways, etc. 3. Leverage partnerships to improve service quality and expand offerings. [email protected] QoreUps +91 93601 90895 Cost Structure Cost Structure 1. Identify and manage your What are the most marketplace's cost structure. important costs inherent in our business model? 2. Examples: Technology development Which key resources are and maintenance, marketing the most expensive? expenses, operational costs, etc. Which key activities are the most expensive? 3. Optimize costs while ensuring the quality and scalability of your marketplace. [email protected] QoreUps +91 93601 90895 Revenue Streams Revenue Streams For what value are our 1. Determine how your marketplace customers really willing to generates revenue. pay? For what do they currently pay? How are 2. Examples: service fees from users, they currently paying? subscription fees, advertising, How would they prefer to commission fees from vendors, etc. pay? How much does each revenue stream 3. Explore various monetization models contribute to overall to ensure sustainable revenue. revenues? [email protected] QoreUps +91 93601 90895 Start Designing Your Marketplace Business Model 1. By understanding and addressing the key components of a marketplace business model canvas, you can create a successful and sustainable marketplace. 2. Continuously adapt and evolve your marketplace to meet the changing needs of your customers and the market. 3. Thank you for your attention! [email protected] QoreUps +91 93601 90895
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